New “In Sync” updates from the IASB – The International Accounting Standards Board (IASB) has published for public comment the Exposure Draft Disclosure Initiative (Proposed amendments to IAS 7). This Exposure Draft includes proposed changes to the IFRS Taxonomy to reflect the effect of the proposed amendments to IAS 7. This is the first time that proposed […]
The XSB has approved the Transformation Rules Registry v3 to Candidate Recommendation status, introducing further support for a number of international date and number formats. This registry defines how the preferred presentation of values in Inline XBRL documents is converted to the standardised formats required by XBRL data types. This specification is ready for implementation and feedback on […]
The EBA website has published a wealth of information about options and national discretions applied by EU National Competent Authorities as part of the Capital Requirements Directive (CRDIV) for bank supervision. The national variability displayed is a good example of the challenges faced both by internationally operating banks and the regulators themselves. The summary table is probably a good […]
Australia has a Ministry of Small Business, and its chief – MP Bruce Billson – is embracing a plan by the National Australia Bank, calling for the abolition of Business Activity Statements, which are quarterly returns on Value Added Tax inputs and outputs. Billson also has Standard Business Reporting on his radar as another way to make […]
As we reported recently, there is a proposal within the International Organization for Standardisation (ISO) to start a new effort to create an international standard for audit evidentiary data for internal and external audit. In response to this development, XII convened a task force to define our position on this issue and make recommendations regarding a suggested response by […]
Spain has taken significant step forward in terms of open data and government transparency by making structured data from Annual Financial Statement filings freely available online.
The Netherlands Institute of Chartered Accountants has developed a “Uniform Presentation” (UP) specification so that XBRL instance data is displayed the same or nearly identically when created by different software applications.
The Carbon Disclosure Project has announced a public consultation period for its new 2014 Climate Change Taxonomy. The purpose of this taxonomy is to improve data quality and accessibility, align environmental reporting models with those used for financial reporting and make data consistent with other sustainability frameworks using XBRL such as the Global Reporting Initiative […]
The US House of Representative’s Committee on Oversight and Government Reform held a hearing with testimony from elected and government official on how the DATA Act will impact government spending.
A guest editorial in The Age newspaper details red tape reduction efforts that will be of particular benefit to small and medium sized businesses. In addition to reducing tax filing requirements outright for almost 500.000 businesses, the article stresses the efforts of the Australian government’s use of Standard Business Reporting to reduce paperwork burdens, freeing […]
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